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By admin 2018-05-19

Karachi : Dull trading continued at the Karachi Cotton Exchange on Friday, while spot rates remained unchanged. The spot rates stood firm at Rs7,400/maund (37.324kg) and Rs7,931/40kg. Ex-Karachi rates also remained unchanged at Rs7,545/maund and Rs8,086/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively. An analyst said trade activity in the market remained low, as season had almost ended, while the market was looking towards the new crop, which is likely to be delayed due to water shortage. The government had increased the target, but water shortage remained the major issue in the country, so a decrease in the production is expected, he added. Karachi cotton market recorded only one transaction of 700 bales from Fort Abbas at the price of Rs6,400/maund.